Source: OT-Team(G), 北京市商务局 Beijing has introduced a new policy that streamlines business registration for foreign investors, significantly reducing setup time.
A South Korean investor successfully obtained a business license at the Fengtai District Service Center after completing identity verification via the "e Chuang Tong" WeChat mini-program. According to the Beijing Municipal Market Supervision Administration, this marks the first company registration in the city completed by an investor from a visa-exempt country using the simplified process. As a result of the streamlined identity verification process for visa-exempt individuals, the time for foreign enterprises to set up has been reduced from 2 to 3 months to as little as 1 day.
In an effort to further facilitate foreign investment and optimize the business environment, the city's market regulation authority promptly adjusted registration policies and simplified the verification of identity documents for individuals from visa-exempt countries. Now, individuals from these countries can quickly complete identity verification by providing their valid passports through the "e Chuang Tong" WeChat mini-program or by verifying the original passport in person at the service center. After learning about the new policy, the South Korean investor quickly prepared for the company setup and successfully completed the registration process with guidance from staff at the Fengtai District Market Regulation Bureau. The investor expressed, "It is an honor to be the first investor in Beijing to benefit from the new policy. I didn't expect setting up a company in Beijing to be so convenient and efficient. The new policy has saved us a lot of time and effort, which gives us great confidence in our future development in China." This new policy, aimed at streamlining the business license process for visa-exempt individuals, is another significant step by Beijing's market supervision authorities in promoting the convenience of foreign investment.
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